Foreclosure, A National Problem:

Foreclosure, A National Problem:
Here are some disturbing statistics from the Mortgage Bankers Association, based on 44.6 million mortgages. Data courtesy of the CDPE organization.

National Numbers, Prime Loans - 1st Quarter 2010
3.41% in Foreclosure
6.89% in Default (30+ days late)
10.3% Total

National Numbers, Subprime Loans - 1st Quarter 2010
15.39% in Foreclosure
25.76% in Default (30+ days late)
41.15% Total

National Numbers, FHA Loans - 1st Quarter 2010
3.93% in Foreclosure
12.09% in Default (30+ days late)
16.02% Total

National Numbers, VA Loans - 1st Quarter 2010
2.63% in Foreclosure
7.06% in Default (30+ days late)
9.69% Total

National Numbers, All type loans combined - 1st Quarter 2010
4.63% in Foreclosure
9.38% in Default (30+ days late)
14.01% Total

That's approximately 1 in 7 mortgages not being paid.
More than 7 out of 10 homeowners go into foreclosure without VISIBLE intervention.

If you are in financial distress, help is just a phone call away.

Donn Rasch
Real Estate Broker
CDPE (Certified Distressed Property Expert)
RE/MAX Equity Group, Inc.
9200 SE Sunnybrook Blvd., Suite 100
Clackamas, Oregon 97015
503-658-5000
http://www.equitygroup.com/drasch
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